RS&UT; exemption for materials & equipment used to drill natural gas & oil, sunset provision. (SB563)

Introduced By

Sen. Tommy Norment (R-Williamsburg)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

Sales and use tax exemption; materials and equipment used to drill natural gas and oil. Extends the sunset from July 1, 2016, to July 1, 2021, for the sales and use tax exemption for machinery and tools, materials, and supplies used to drill, extract, or process natural gas or oil. Read the Bill »

Status

03/06/2016: Passed the General Assembly

History

DateAction
01/13/2016Prefiled and ordered printed; offered 01/13/16 16102737D
01/13/2016Referred to Committee on Finance
01/22/2016Impact statement from TAX (SB563)
02/11/2016Reported from Finance with amendment (15-Y 0-N) (see vote tally)
02/15/2016Read second time
02/15/2016Reading of amendment waived
02/15/2016Committee amendment agreed to
02/15/2016Engrossed by Senate as amended SB563E
02/15/2016Printed as engrossed 16102737D-E
02/15/2016Constitutional reading dispensed (40-Y 0-N) (see vote tally)
02/15/2016Passed Senate (40-Y 0-N) (see vote tally)
02/17/2016Placed on Calendar
02/17/2016Read first time
02/17/2016Referred to Committee on Finance
02/18/2016Impact statement from TAX (SB563E)
02/29/2016Reported from Finance (22-Y 0-N) (see vote tally)
03/01/2016Read second time
03/02/2016Read third time
03/02/2016Passed House BLOCK VOTE (99-Y 0-N)
03/02/2016VOTE: BLOCK VOTE PASSAGE (99-Y 0-N) (see vote tally)
03/03/2016Enrolled
03/03/2016Bill text as passed Senate and House (SB563ER)
03/03/2016Signed by Speaker
03/06/2016Signed by President
03/07/2016Impact statement from TAX (SB563ER)
03/07/2016Enrolled Bill Communicated to Governor on 3/7/2016
03/07/2016G Governor's Action Deadline Midnight, Sunday, April 10, 2016

Video

This bill was discussed on the floor of the General Assembly. Below is all of the video that we have of that discussion, 2 clips in all, totaling 1 minute.

Transcript

This is a transcript of the video clips in which this bill is discussed.

GAS AND OIL.

Del. Steve Landes (R-Weyers Cave): MR. WARE.

[Unknown]: THANK YOU, MR. SPEAKER, MR. SPEAKER, LADIES AND GENTLEMEN OF THE HOUSE, SENATE BILL 563 WHICH DID NOT HAVE A HOUSE COUNTER PART WILL EXTEND FROM THE CURRENT SUNSET OF JULY OF THIS YEAR OWE JULY 2022, A 20 PLUS YEAR POLICY OF EXCEPTING SALES AND USE TAX ON MATERIALS AND EQUIPMENT USED TO DRILL FOR NATURAL GAS AND OIL. I ASK THE HOUSE TO PASS THE BILL. CONTINUING ON PAGE FIVE OF THE PRINTED CALENDAR, SENATE BILL 573 A BILL TO AMEND AND REENACT SECTION OF THE CODE OF VIRGINIA RELATING TO PART TIME TEACHER PERMITS. WITH A SUBSTITUTE.